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Blackstone CEO took home US$810.6m in 2015

Sat, Feb 27, 2016 - 10:31 AM

Blackstone Group LP chief executive Stephen Schwarzman took home US$810.6 million in 2015, after the New York-based asset manager returned a record amount of cash to its shareholders following a wave of lucrative asset sales.

PHOTO: BLOOMBERG

[NEW YORK] Blackstone Group LP chief executive Stephen Schwarzman took home US$810.6 million in 2015, after the New York-based asset manager returned a record amount of cash to its shareholders following a wave of lucrative asset sales.

The hefty payout represented a 17 per cent rise in Mr Schwarzman's earnings compared with 2014, in line with a solid rise in Blackstone's cash earnings last year.

Blackstone's distributable earnings rose 25 per cent on an annual basis in 2015 to US$3.8 billion.

Mr Schwarzman received US$89.5 million in compensation, US$644.8 million in dividends from his Blackstone shares, US$65.6 million for his investments in Blackstone funds, and US$10.8 million for tax benefits related to his stake in the company before its 2007 listing, a regulatory filing showed on Friday.

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The son of a dry goods store owner, Mr Schwarzman, 69, is ranked by Forbes as the 100th richest man in the United States, with an estimated net worth of US$12 billion.

Blackstone president Tony James took home US$236.2 million last year, the filing showed.

Mr James' earnings comprised US$75.9 million in compensation, US$89.5 million in dividends from his Blackstone shares, US$68.5 million for his investments in Blackstone funds, and US$2.3 million for tax benefits related to his stake in Blackstone before the firm's initial public offering.